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S&P 500 Dips as Netflix Stumbles on Tax Charge, Intuitive Surgical Rises on Strong Earnings

S&P 500 Dips as Netflix Stumbles on Tax Charge, Intuitive Surgical Rises on Strong Earnings

Author:

Global Cryptocurrency

Published:

2025-10-22 21:41:01

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Netflix shares tumbled Wednesday after a one-time tax event in Brazil dragged earnings below estimates. The streaming giant's miss overshadowed broader market sentiment, contributing to a 0.5% decline in the S&P 500. Meanwhile, Intuitive Surgical surged as robust procedure growth powered better-than-expected results.

Tech stocks bore the brunt of the selloff, with the Nasdaq sliding 0.9% ahead of Tesla's earnings report. Lennox International plunged 10% after cooling demand for residential HVAC systems led to a revenue shortfall. The Dow Jones Industrial Average closed 0.7% lower as earnings season volatility persisted.

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